Sample FInal
Procter & Gamble markets Cheer detergent to young singles and couples and Tide detergent to families. Procter & Gamble is using a(n) ____ targeting strategy for laundry detergents.
differentiated
Issues of inventory levels and storage costs are both concerns relating to the ____ variable of the marketing mix.
distribution
Recognition and recall tests are posttest methods based on
memory
After purchasing a new Lexus, Brandon sees an Infinity pass by on the street and begins to wonder if he made the right choice. Brandon is experiencing
cognitive dissonance.
The Barrister's Deli decides to run advertisements for its lunch specials on a local FM radio station. Marketing research later reveals that the restaurant's target market listens primarily to satellite radio stations. This promotion program suffered from an error in the selection of
communication channel.
Amazon's pricing, service, and continuing investment in improving its website with additional product offerings give it a(n) ____ over many other retailers.
competitive advantage
An advertising platform should consist of issues that are important to consumers. Selling features should be important to consumers and should be features that
competitive products lack.
A set of Bose car speakers sold to Ford for use in the production of a hybrid Escape, would be an example of a(n)
component part.
In the distribution channel for Domino's Pizza, channel members are linked by legal agreements that spell out the obligations and rights of each member. This is an example of a(n) ____ vertical marketing system.
contractual
A firm's unique symbols, personalities, and philosophies comprise its
corporate identity.
An individual knows that a product exists, but has little information regarding the product and does not seek additional information. In what stage of the product adoption process is that person?
Awareness
____ are web-based journals in which writers can editorialize and interact with other Internet users.
Blogs
An accountant buys a supply of pencils to be used in calculating the taxes of other business firms. Based on this information, pencils in this case would be considered what type of product?
Business
____ refers to customers' ability to regulate the information they view and the rate and sequence of their exposure to that information.
Control
In which stage of the product life cycle do profits begin to decrease?
Growth
Which of the following types of promotion informs potential customers about a product and what it is?
Pioneer
Which of the following is not a component of a marketing plan?
Product
Which of the following types of product modifications inevitably tend to cause firms to reduce costs in some of the organization?
Quality
What step in developing new products involves determining whether the product idea is compatible with company objectives, needs, and resources on a general level?
Screening
Shannon Hill needed to buy an airline ticket to visit her parents. She went to several websites to compare rates and chose a flight on Southwest Air lines because, for a similar price to other airlines, it had a better reputation for service. For Shannon, this flight is an example of which type of product?
Shopping
Julie likes to read the blog connected to the fashion editors at Vogue Magazine. While Julie likes to read the blog, she does not actually create any content herself. Julie would be called a(n)____ with regard to the Vogue blog.
Spectator
JCPenney's website encourages visitors to register in order to maximize their use of the site. By gathering information about a consumer before a purchase is made, JCPenney is practicing
addressability
When a company promotes its position on a public issue, this is specifically referred to as ____ advertising.
advocacy
Changes that affect the sensory appeal of a product by altering its taste, texture, sound, smell, or visual characteristics are called ____ modifications.
aesthetic
Smart phones contain ____ that help consumers access more information about businesses.
applications
Brianna owns and operates a gift and interior store called The Gingerbread House. She works hard to put together beautiful arrangements and displays throughout the store and always features a burning scented candle and light music. She hopes these efforts will encourage her customers to buy more. Brianna is focusing on
atmospherics
Crest toothpaste is available in several different versions, such as Crest Whitening, Crest Tartar Control, Crest Whitening with mouthwash, and Crest Total Effects. Given these different variations of the product, it appears that the marketers of Crest are segmenting the market by using ____ segmentation.
benefit
Mama Vertalli's Bakery is a family-owned business with over $1 million in annual revenues and six locations. At Mama Vertalli's, decisions are sometimes slow in coming and top-level managers delegate very little authority to lower-level employees. Mama Vertalli's is a(n) ____ organization.
centralized
Goodyear allows companies like Sears and Discount Tire to distribute and discount its tires. This action significantly increases the possibility of channel ____ with independent Goodyear dealers.
conflict
The ability of a product to provide the same level of quality over time is called
consistency
Many health care companies are making adaptations to meet the needs of an aging population as the demand for medical services and products such as diabetes supplies increases. This change in marketing strategy is best explained by a change in
demographics
A schedule in which advertisements run for set periods of time, alternating with periods in which no ads run is known as
flighting
All of the following are marketer-dominated sources of information except
friends
Due to limited resources, a consumer decided to serve Hawaiian Punch to a New Year's Eve party crowd instead of Korbel champagne. As a result of this action, Korbel and Hawaiian Punch can be viewed as ____ competitors.
generic
A physical product you can touch is a(n)
good
Aggressive pricing is typical during the ____ stage of the product life cycle.
growth
After shopping in the same store for nearly two hours, Chelsea goes to Burger King for a Whopper, while Cynthia goes to the optical shop to see if her contacts are ready. They engage in these activities without leaving the store in which they have been shopping. They are most likely in a
hypermarket
Costco believes that most of its sales are to small businesses rather than consumers -- and that women are more likely to be making the purchasing decisions. This is an example of a(n) ____ that Costco could test through marketing research.
hypothesis
When charitable organizations such as the American Cancer Society, Second Harvest Foodbank, and the Red Cross make purchases for goods and services to use in their daily operations, they would be considered to be _______ buyers.
institutional
Sales of Schwinn's apartment-sized exercise machine have experienced a steady climb; however, the profits have been negative. The Schwinn exercise machine is most likely in the ____ stage of the product life cycle.
introduction
For most products, a(n) ____ relationship exists between the price of a particular product and the quantity demanded.
inverse
Head nodding, winking, hand gestures, and arm motions are all forms of ____ communication.
kinesic
While Alec's grandfather still prefers using a land line, he just bought his first cell phone. Alec's grandfather is most likely oriented toward the past and is a member of the ____ group.
laggards
Julie Reese is working on developing a magazine advertisement for Planet Fitness, a health and fitness club. She knows what she wants the advertisement to say and the illustrations she wants to use, but she is having a tough time putting it all together. Julie is having trouble determining the
layout
Marketers often provide consumers with free samples, sometimes coupled with coupons, to help them gain experience with their products and facilitate consumer
learning
A marketer that wanted to include detailed information in advertisements would most likely use
magazines
Subaru is producing a new seven-passenger van with all-wheel drive. Which of the following would be the best variables for segmenting the market for this new model?
Geographic location and family life cycle
If a company segments its market on the basis of their reasons for purchasing a particular product, the primary segmentation variable in use is
motives
Sonya is watching the six o'clock news as she prepares dinner. As commercial breaks come on, Sonya's dinner preparation would be considered __ in the communication process.
noise
Lucas is planning a distribution strategy for his business. He is considering using direct marketing, direct selling, and automatic vending, which are all examples of ____ retailing.
nonstore
As her Internet quilt and bed linen business grew, Danielle could no longer perform all the distribution activities, so she hired a shipper and an information technology firm to assist with these functions. Danielle is using ____ for physical distribution for her business.
outsourcing
French Quarter Inns drops the price of a suite from $225 to $195 per night and experiences a reduction in the quantity of rooms demanded of an average of five per night. This is an indication that suites at this hotel are apparently an example of a(n) ____ product.
prestige
Motorola buys silicone which is used in its chip-making process. Motorola produces microchips for use within a wide variety of products for other firms, such as Ford, GM and Samsung. Motorola is a buyer in a(n) ____ market.
producer
Deciding to add gel insoles to its running shoes would be a change in the ____ element of the marketing mix for Nike.
product
If Pedigree offered you a position in which you would have total marketing responsibility for all of its canned dog food, this position would probably hold the title of ____ manager.
product
With respect to inventory, wholesalers can help retailers with all of the following except
production
The element of the marketing mix used to increase awareness of a product or company is
promotion
Assuming that inflation is low, high buying power characterizes the ____ stage of the business cycle.
prosperity
Kohl's, a department store featuring clothing and housewares, communicates in news story form about its organization and its efforts to support local children's hospitals. This information is transmitted through mass media at no charge and is therefore called
publicity
The Sharper Image likes to use nonpersonal communication in news story form such as press releases for its new and improved products. This is an example of
publicity
The percentage of consumers in the target audience actually exposed to a particular advertisement in a stated period of time is the definition of
reach
While Silk Soymilk engages in environmental scanning and analysis, the company is more likely to change its products and marketing strategies to adapt to environmental forces rather than trying to influence these forces. Silk Soymilk has a(n) ____ approach to marketing environmental forces.
reactive
Mike's Roadside Market buys produce from area farmers, marks the merchandise at a price that includes some profit, and then sells the fruit and vegetables to the people in and around Centerville. Mike's would be classified as part of a ____ market.
reseller
Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective
retention
Carla is a prosecuting attorney for the city of Cleveland. She is also vice president for the local parent/teacher organization and a coach for her daughter's soccer team. The actions and activities associated with each of these positions constitute Carla's
role
Compared with other phases of the new-product development process, the largest number of new-product ideas is rejected during the ____ phase.
screening
The process of dividing a total market into market groups because people within each group have relatively similar product needs is called
segmentation
Volkswagen purchases upholstery for the interiors of its vehicles from various suppliers. This upholstery must have a set of characteristics that is expressed by Volkswagen. This set is called
specifications
If Weight Watchers is interested in collecting information about Americans' perceptions of dieting programs, and the company believes that significant regional differences may exist, the best type of sampling would be
stratified
Jack gets a shopping list from his wife. On the list are a potted plant, fresh salmon, vitamins, bread, milk, and a birthday cake. To make just one stop to save time, Jack should go to a(n)
supermarket
One company markets such diverse products as Rosarita Mexican foods, Max Factor cosmetics, and Samsonite luggage. These various offerings exhibit this firm's product mix
width
Ralph Lauren is planning a promotion where it will showcase all of its clothing lines to buyers at retail stores. It also plans to develop a direct marketing campaign that will use social media to introduce its new seasonal styles. Ralph Lauren is using ___ with the retail showcase and ___ with the social media campaign.
a push policy; a pull policy.
Promotional efforts designed to reduce the risk to consumers for using a product for the first time seek to
encourage product trial.
Organizations that sell products to industrial markets or a few wholesalers tend to focus their promotion efforts on
personal selling.
The owner of Big Bike Motorcycles is opening a new retail location. Which of the following is most likely to be a fixed cost for Big Bike Motorcycles?
Building Rent
Nabisco learned that health-conscious consumers preferred lower fat snack and lower-carbohydrate foods. At the same time, the firm saw sales of such products slumping and was careful not to launch any new varieties of these products for a while. Which of the following best describes Nabisco's action?
Environmental analysis
Of all the federal regulatory units, the ____ most heavily influences marketing activities.
Federal Trade Commission (FTC)
What is the primary factor contributing to the increasing difficulty associated with gathering primary data through surveys?
Fewer people are willing to participate in surveys.
KFC has restaurants in Mexico where Inactives make up the majority of the online population. To match their marketing efforts with the characteristics of the population, KFC should
Focus more on traditional promotions rather than social networking.
Why are marketers interested in consumers' levels of disposable income?
It is a ready source of buying power.
Kellogg's is introducing a new bran waffle for toasters. Television commercials will be a key element in communicating the benefits associated with this product. Based on that decision, Kellogg's is expecting consumers to engage in what form of decision making?
Limited decision making
Ariana is planning to open an upscale dress boutique. She is evaluating ease of movement to and from sites, vehicular traffic, types of stores in the area, and transportation networks. Which strategic retailing issue is she concerned with at the time?
Location
Safeway Supermarkets recently placed an order with the Kahn Corporation for hotdogs. The typical weekly order is for 10 cases; however, since the upcoming weekend includes a holiday, this time Safeway is ordering 100 cases of hotdogs. Safeway orders this product on a regular basis. What type of purchase does this week's purchase represent?
Modified rebuy
Which of the following is most likely to have an inelastic demand curve?
Nonelective surgery
Which of the following survey methods has the potential to offer quick response at a lower cost than traditional mail and telephone surveys?
Online surveys
Product and target market characteristics usually determine the type of coverage a product receives. For which of the following products is selective distribution most appropriate?
Organic foods
In general, which of the following competitive structures is an organization least likely to operate?
Pure competition
Marketing facilitates exchange relationships between buyers and sellers. What is marketing's intended outcome for this relationship?
Satisfaction for both the buyer and seller
The U.S. Army recruits soldiers based on the slogan, "Army Strong," implying that people can reach their full personal potential in the U.S. Army. This is an appeal to what need according to Maslow's hierarchy of needs?
Self-actualization
Which of the following is not one of the major categories of consumer market segmentation variables?
Situational variables
Which of the following buying situations is most consistent with routinized response behavior?
Stephanie buying bottled water
Why would a company use the undifferentiated strategy?
The needs of individual consumers in the target market for a specific product are similar, so the organization can satisfy most customers with a single marketing mix.
At what point does a firm maximize profit?
The point at which marginal cost equals marginal revenue
Which of the following best illustrates how a firm can use a symbol to make an intangible product more tangible?
Traveler's Insurance umbrella
All of the following products are likely to use the producer-retailer-consumer marketing channel except for _____
U-Pick farm produce
The fact that a gas station in Texas pays less for fuel than a gas station in Maine from a producer in Louisiana suggests that refineries are using which of the following pricing methods?
Zone pricing
In marketing research, a sample is best described as
a limited number of units chosen to represent the characteristics of a total population.
Inelastic demand simply means that
a price increase or decrease will not significantly change the demand for an item.
A general-merchandise retailer offers
a variety of product lines that are stocked in depth.
Before launching a new advertising campaign, marketers for Healthy Choice frozen dinners must determine the selling points that they want to include in the advertisements. The identification and organization of these selling points is called the
advertising platform.
Lucy buys a new dress at T.J. Maxx that has a price tag with "Compare at $150.00. Our Price $89.99." This is an example of the use of
an external reference price.
Ryan is on his way to work when he realizes he has a flat tire. He swings into Sam's Club and has a new tire installed. Ryan's purchase of a new tire in this situation is considered to be
an unsought good
Decreasing sales, increasing expenses, or decreasing profits
are examples of symptoms that point to larger problems.
Abby is marketing consultant who specializes in small businesses. Her current client is very interested in estimating the costs for the coming year, in order to find the breakeven point. Abby knows this is an important financial statistic because below the breakeven point, the firm is operating
at a loss.
Brands that are promoted through comparative advertising are most likely to be
brands that are attempting to compete with market leaders.
Barnes and Noble sells online through its website, while also selling through physical store locations. This type of retailing is referred to as
brick-and-clicks.
Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.
business analysis
Rollins Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share; however, it has low prospects for growth. The unit currently generates more cash for Rollins Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a _____
cash cow.
When Yoplait Yogurt gives a portion of its profits to Breast Cancer Research, it is using
cause-related marketing.
A single leader who controls and organizes a marketing channel is called a
channel captain.
In addition to the proliferation of new organic brands many conventional marketers have introduced organic versions of their products, including Orville Redenbacher, Heinz, and even Walmart. These firms are responding to changes in
cultural values.
Long-term relationships with profitable customers is the key objective of
customer relationship management.
All members of the supply chain should determine their position in the chain, identify their partners and their roles, and establish partnerships whose focus is
customer relationships.
An important goal of physical distribution is reducing the time it takes to complete
cycle time.
If a store has areas for men's apparel, women's apparel, housewares, cosmetics, and jewelry and competes mostly on the basis of service, it is most likely a(n)
department store.
Procter & Gamble makes at least eight different laundry detergents. This is most relevant to the issue of
depth of product mix.
Select Comfort, a producer of adjustable air mattresses, sells most of its products through direct mail sales and on its website. This channel would be classified as
direct-marketing.
Ollies' is a regional self-service retail store that sells name-brand electronics, tools, housewares, and sporting goods at low prices. Ollies' is an example of a
discount store.
A narrow product mix with a deep product line would most likely be carried by
discount stores.
In managing customer relationships, the three primary ways profits can be obtained are by
enhancing the profitability of existing customers, extending the duration of relationships with customers, and obtaining new customers.
The Lazy-Boy Furniture Company collects information about a wide variety of competitive, economic, political, legal and regulatory, technological, and sociocultural forces that affect its marketing activities. This process is called
environmental scanning.
The 1990 Nutrition Labeling and Education Act directly prohibits
exaggerated health claims on food packages.
By offering both credit and financing through its GMAC division, General Motors is trying to help consumers
expand current buying power at the expense of future buying power.
Organizational buyers are especially partial to direct marketing channels when
expensive and/or complex equipment is involved.
If Little Caesars wants to determine the impact of different coupon offers on pizza unit sales, it needs to conduct
experimental research.
Cooperative advertising efforts between manufacturers and retailers demonstrate the promotional objective of
facilitating reseller support.
A marketer that targets customers based on marital status and the presence and age of children is using
family life cycle.
A competitive advantage exists when a
firm matches a core competency to opportunities it has discovered in the marketplace.
An opinion leader is likely to be most effective under all of the following conditions except when the
follower has attitudes and values that are different from those of the opinion leader.
Kevin is talking with Peter about purchasing a Wendy's franchise. Peter tells Kevin that one of the major advantages of franchising for him to consider is the
higher success rate for franchises.
lleStarbucks provides training and support to its employees, including health care benefits. Through these ____ efforts Starbucks is better able to deliver quality products and service to its customers.var
internal marketing
Darren uses Microsoft Excel to determine how much the responses to his survey about household decision making for toilet paper vary. Darren is in the ____ step of the marketing research process.
interpreting research findings
If the terms of a business exchange are 2/10 net 30, this means that the transaction
involves a cash discount if paid within ten days.
A target market
is a specific group of customers on whom an organization focuses its marketing efforts.
Eighteen-year-old students do not form a market for alcoholic beverages because they
lack the authority to purchase this type of product.
An open-air shopping center that features upscale specialty, dining, and entertainment stores, usually owned by national chains, is generally called a(n)
lifestyle shopping center.
If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of
line extension.
If Nokia decides to make changes in its marketing channels, the strategic significance is that channel decisions are
long-term commitments.
An independent businessperson who is paid a commission to sell complementary products of different producers in an assigned territory without actually taking title of the merchandise is a(n)
manufacturers' agent.
The total volume of a product, for all firms in an industry, that would be purchased by specific customer groups within a specified time period at a given level of industry-wide marketing activity, is the
market potential.
The percentage of a market which actually buys a specific product from a specific company is referred to as that product's
market share
The use of marketing research is
widespread throughout business and nonprofit organizations.
Bart's Appliance Center owner Ron Bart feels that his organization has access to a great deal of information generated both inside and outside the firm, but much of this information is presently going to waste. Apparently, Bart needs to develop a
marketing information system.
CyberCycle Inc., is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the
marketing plan.
When encoding the message, the source should use signs that have
meanings that the target market will understand.
Hobby Lobby encourages customers to visit their website and "like" their Facebook page. It also enlists customers to post feedback on their company, refer to articles of interest to other Hobby Lobby customers, and offer suggestions for future electronic communication. Hobby Lobby is using a positive marketing strategy for its Facebook page and company website because customer-generated content appears
more authentic than company-generated content.
When using the percentage-of-sales approach for determining the advertising appropriation, marketers
multiply the firm's past sales plus a factor for expected changes in sales times a standard percentage.
If Procter & Gamble, the maker of Dawn dishwashing liquid, wants to know what percentage of customers examine product labels before making a product selection in the grocery store, it can best gain this information through
observation.
The American automobile industry was historically dominated by "The Big Three," referring to General Motors, Ford, and Chrysler. However, as many more foreign competitors began influencing this market, the American companies had to modify and differentiate their products. The automobile industry moved from a(n) ____ structure to a(n) ____ structure.
oligopolistic; monopolistic competition
Brad accesses Overstock.com's site on the Internet and purchases a business laptop case. This is an example of
online retailing.
An item on the University Book Store's survey asks respondents to tell the store, in their own words, what they like least about textbook shopping. This item would be an example of a(n) ____ question.
open-ended
The target audience for an advertising campaign is the
people toward whom the advertisements are directed.
Generally, promotion mixes for companies with extremely limited promotional budgets tend to concentrate on
personal selling.
Michael is planning a promotional program for AirFam. AirFam is a supplier of new energy-saving engines used to produce air conditioners. His company needs to promote these engines to manufacturers of air conditioners, so he is most likely to use ___, because it provides immediate feedback. The disadvantage is that it is _____ than advertising to reach one customer.
personal selling; more costly
For most consumers, there is an assumed relationship between
price and quality.
By promoting the fact that "orange juice is not just for breakfast anymore," the Florida Orange Growers Association attempted to stimulate
primary demand.
Stefanie is shopping for groceries at her local supermarket. As she picks up laundry detergent, she sees the display of bathroom cleaners and remembers that she is about to run out of it at home. Stefanie tries to remember the specific brand that she used last time, because she thought that was the best in terms of performance and value. In terms of the consumer buying decision process, Stefanie's remembering that she was almost out of bathroom cleaner is the ____ phase of the buying decision process, where trying to remember what brand she last used was an example of the _____ phase.
problem recognition; internal information search.
Business markets are typically divided into four categories. These categories are
producer, reseller, government, and institutional.
Schwinn has developed a new bicycle that has the strongest and lightest-weight frame of any bicycle outside of those made for racing. In addition, Schwinn has added several new features to its bike that are attractive to individuals who work as "bike messengers" in large, urban cities. Since no other company makes a bike that has these specific attributes, Schwinn is creating
product differentiation.
Seth recently purchased a new Brunswick Billiards table for his recreation room. The next day after delivery, Seth noticed a problem with the way one of the pockets was strung. Since it was a weekend, he didn't expect to have it repaired. However, when he called the store to leave a message, someone answered the phone. She gave Seth a number where he could call a repair representative who would come straight to Seth's house within an hour. Brunswick Billards is most likely differentiating itself through
product support services.
Without wholesalers and other intermediaries,
products would likely be more expensive due to the use of less efficient channel members.
Advertising, personal selling, sales promotion, and public relations are called
promotion mix ingredients.
If Wilson Sporting Goods faces a standard demand curve that exists for most products, as it raises the price of its tennis rackets, the
quantity demanded goes down.
Lynn Taylor sells Revlon cosmetics on consignment to grocery stores, maintains the display racks, and restocks when necessary. Lynn's job is best described as a
rack jobber.
Minerals, chemicals, timber, and agricultural products are considered
raw materials.
Alton is reading a magazine ad for a new cologne. In the ad, he sees little more than a photo of a man riding horseback on a beach, and the name of the new cologne, Rugged. In this situation, Alton is a ___, one who ___.
receiver; decodes.
Jason owns a small landscaping business called GreenScapes. When buying a new pickup truck for his landscaping business, Jason negotiated with Palmetto Dodge, a dealer, with the agreement that GreenScapes would be the service company Palmetto Dodge used for all of its landscaping needs. This is an example of
reciprocity.
An advertisement from a ski lodge extolling the benefits of a summer getaway in the mountains uses promotion to
reduce sales fluctuations.
Today, establishing long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through the creation of more satisfying exchanges is known as
relationship marketing.
Convenience products are
relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort.
In business markets, individuals or groups purchase products for one of three purposes. These purposes are
resale, direct use in producing other products, and use in general daily operations.
A new variety of Doritos is initially introduced in Ft. Worth, Texas; Columbia, South Carolina; Peoria, Illinois; and Spokane, Washington. After its initial success, Frito Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.
roll-out approach
Which of the following products is most likely to be marketed, using an undifferentiated approach?
seasoning salt
Saks Fifth Avenue wants to learn about its consumers' attitudes toward on-line purchases. There are numerous studies that are available about consumers and on-line buying, but Saks believes its customers might be different from the usual on-line consumer profile, so they decide to conduct their own study. If Saks were to use the available data about consumer attitudes, it would be using ___ data; however, if Saks does its own study it would collect ______ data.
secondary; primary
Age, rate of product use, location, and gender are all examples of common
segmentation variables.
Perception is a three-step process that involves
selecting, organizing, and interpreting information inputs.
Premium-priced products are usually marketed through
selective or exclusive distribution.
The Pharmaceutical Research and Manufacturers of America sets guidelines for its member firms to follow regarding the use of unethical practices. Thus, it is engaging in
self-regulation.
Fragile products that require special handling are more likely to be distributed through
shorter channels.
Our society uses many factors, including occupation, educational level, income, wealth, religion, race, ethnic group, and possessions, to group people into
social classes.
When developing an advertising campaign, benchmarks need to be included in the
statement of advertising objectives.
Managers at the Longshore Corporation are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and, eventually, a marketing plan. This process is called
strategic planning.
Successful business organizations should take actions to convert internal weaknesses into ____ and external threats into ____.
strengths; opportunities
Top managers at Cincinnati Microwave believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product. In this instance, they are contemplating skipping the ____ phase of the new-product development process.
test marketing
The cost per thousand (CPM) indicator shows
the cost to expose 1,000 people to a one-page magazine advertisement.
Possession utility is best described as
the customer having access to the product to use now or store and use later.
A friend of yours starts his own business. He would like to expand his client base to include the government, but he believes his small business would be ignored. Based on your knowledge from the text, you tell him
the government buys products from all sizes of business, but there is some red tape.
Many aspects of consumer buying decisions are affected by the individual's level of involvement. Level of involvement is
the importance and intensity of interest in a product in a particular situation.
One trend that has caused consumer-generated information to gain importance is
the increase of consumers using digital media to publicize their own product reviews.
Distribution, price, promotion, and product are all elements of
the marketing mix.
Generally, customers are most likely to rely on the price-quality association when
they cannot judge the quality of the product for themselves.
Monopolies usually keep their prices at a level that generate a reasonable, but not excessive, return primarily because
they want to avoid government regulations on their pricing.
The type of retail location that is commonly being preserved and revitalized in many cities is the
traditional business district.
A retailer is an organization that purchases products for the purpose of reselling them to
ultimate consumers.
To make intangible products more tangible or real to the consumer, marketers often
use symbols or cues to help symbolize product benefits.
Marketing activities are
used by all sizes of organizations including for-profit, nonprofit, and government agencies.
The attrition rate for digital media channels is
very high.
